IFFCO, Griffith Foods end JV, pursue independent growth in MENA

IFFCO, the multinational FMCG powerhouse headquartered in the UAE, has announced the transfer of full ownership of its joint venture ‘Griffco Foods’ to Griffith Foods.

This marks the culmination of a successful strategic partnership that has driven market expansion, new product development, and operational excellence across Middle East and North Africa (MENA) markets.

With the initial objectives of the joint venture met, both companies are now positioned for independent growth, leveraging their respective strengths to pursue new opportunities. They have pledged to ensure a seamless transition for customers and stakeholders.

IFFCO Group, with a diverse portfolio spanning food, agribusiness, packaging, chemicals, and logistics, will focus on enhancing its product and service offerings to meet the evolving demands of the food service industry.

The group’s expanded operational and manufacturing footprint is expected to bolster its market presence, service capabilities, and sustained growth.

“Over the past five years, our partnership with Griffith Foods has played a key role in driving mutual growth and strengthening our capabilities to meet the evolving demands of Quick Service Restaurants and the wider foodservice industry,” said Andrey Dribny, MD – Culinary, IFFCO Group.

A new phase for IFFCO and Griffith Foods

“As we enter this new phase, we remain committed to strengthening our core expertise, expanding our product portfolio, and delivering enhanced services across our key markets,” Dribny added.

“This strategic move to differentiate our businesses will create significant value for our customers, as we focus on advancing our core capabilities, expanding our product offerings for QSRs, hotels, restaurants, cafes, catering, and industrial businesses, and adding new manufacturing locations in Saudi Arabia to further strengthen our regional presence,” he said.

Rizwan Ahmed, executive director, IFFCO Group, stated, “IFFCO Group continues to invest in cutting-edge manufacturing capabilities and R&D facilities to ensure that we deliver innovative, high-quality solutions tailored to customer needs. Our long-term strategy is focused on accelerating our growth trajectory and strengthening our presence in key markets and segments.”

The transition is expected to have minimal impact on existing customers and stakeholders, with both IFFCO and Griffith Foods committed to maintaining service continuity.